Sila raises $375 million to build silicon-based anode factory

Sila, a California-based silicon-based anode material company, has successfully raised $375 million in its G round of financing. The funds will be used to ensure that the company completes the construction of the Moses Lake plant in the first quarter of 2025 to provide Titan Silicon silicon-based anode materials for up to 1 million vehicles, and to start providing Titan Silicon silicon-based anode materials to automotive customers in the fourth quarter of the same year. Sila has successfully signed five customers, including Mercedes-Benz and Panasonic, who will receive Titan Silicon silicon-based anode materials from the Moses Lake plant.